BLACK-GOLD BLUES

Gasoline may soon hit $4 a gallon

'I think it's going to be a chaotic spring'

Published: 02/13/2012 at 6:29 PM

(ABCNEWS.GO) — Gasoline prices could soon hit $4 a gallon, a threshold they haven’t flirted with since last spring.

The average price paid by U.S. drivers for a gallon of regular now stands at $3.52, according to the U.S. Energy Information Administration, which released its latest figures this afternoon. That price represents an increase of 0.04 percent from a week ago and 0.38 percent from a year ago.

Experts expect prices to spike another 60 cents or more, with the $4 mark being touched—or exceeded—sometime this summer, probably by Memorial Day weekend, the peak of the summer driving season. The last time the U.S. saw $4 gasoline was back in the summer of 2008.